Scam, Prank Or Abstract Art? New Phony SEC Filing Indicates $88 Billion Purchase Of Bank Of America Stock

Whether it be an odd prank, a publicity stunt, an amateurish scam or some kind of extremely abstract art, a new fake filing related to Bank of America Corp BAC has shown up on the U.S. Securities and Exchange Commission’s Edgar regulatory filing system.

On Wednesday, a new filing posted on the SEC site indicated that a company called YNOFACE Holdings Inc had purchased nearly 5 billion shares of Bank of America common stock and 100 million shares of Bank of America preferred stock since August 15. The value of the common shares alone would cost nearly $83 billion at current market price.

YNOFACE Holdings is reportedly run by a man named Antonio Lee.

According to ynoface.com, Lee is a “world-renowned artist, and YouTube celebrity specializing in acrylic painting.”

Related Link: How Funds Charge Hidden 'Soft Dollar' Fees

Lee doesn’t seem to have commented on the filing on Twitter or YouTube, making it unclear what its true purpose was.

There was no market reaction to the document, as traders quickly determined that nobody actually bought a nearly 50 percent stake in Bank of America in the open market.

Last year, Avon Products, Inc. AVP shares surged 20 percent after a phony filing about a takeover bid. The SEC takes fraudulent filings seriously, and the alleged Avon perpetrator was arrested earlier this year.

Full ratings data available on Benzinga Pro.